Novelis Announced Q3 Fiscal Year 2025 Results
The robust demand for beverage packaging sheet was offset by lower automotive and specialty shipments.
SEATTLE (Scrap Monster): Atlanta-based Novelis Inc. reported results for the third quarter of fiscal year 2025.
During the quarter, net income attributable to common shareholders decreased by 9% year over year to $110 million. Additionally, in Q3 of FY25, the net income attributable to common shareholders (excluding extraordinary items) fell 32% to $119 million. According to a business news release, the adjusted EBITDA for the quarter was $367 million, a 19% decrease from the same quarter last year.
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Due mostly to higher average aluminum prices, net sales during the third quarter of fiscal 2025 increased 4% year over year to $4.1 billion. At 904,000 tonnes, the total shipments of rolled products for the quarter were essentially unchanged. Reduced exports of specialist and automobile materials counterbalanced the strong demand for beverage packaging sheets.
As of the end of the quarter, Novelis reported having $1.6 billion in total available liquidity, which included $790 million in available funds under committed credit facilities and $791 million in cash and cash equivalents.
According to Devinder Ahuja, executive vice president and chief financial officer of Novelis Inc., the company plans to use investments primarily financed by internally produced cash flow to seize expanding market possibilities.